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Explain the types of taxes

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Reference no: EM133221464

1. Duty is the amount of tax paid on an imported good. The amount of duty that an importer has to pay is determined by three factors, such as classification, valuation, and the rules of origin.

a. Classifications are made according to very specific rules of interpretation. What are the rules of interpretation?

b. Briefly explain the THREE (3) types of taxes other than import tax.

c. What is tariff?

Reference no: EM133221464

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